The European Union is thinking about concessions to Russia for the sake of extending the grain agreement: FT found out the details

Volodymyr PaziyBusiness
EU considers concessions to Russia for the sake of extending the grain agreement
EU considers concessions to Russia for the sake of extending the grain agreement

The European Union (EU) is considering allowing Russia's Rosselkhozbank to establish a subsidiary that could connect to the international payment exchange system SWIFT. The financial institution itself, from the terrorist country of Russia, is under the bloc's sanctions.

The plan, which Russia has proposed during negotiations through the UN, would allow Rosselkhozbank to create a subsidiary to process payments related to the export of grain. This is stated in the Financial Times article.

As noted, the decision could be a concession by Russia to extend the grain agreement, which already expires on July 18. The idea was seen as the "least worst option" for securing an extension of the agreement. Officials consider the current threats of the aggressor crane to terminate the agreement to be more "serious" than during previous negotiations.

In addition, the problem is complicated by the fact that Rosselkhozbank is wholly owned by the Kremlin. Its executive director, Dmitry Patrushev, is the current Russian Minister of Agriculture and son of Security Council Secretary Nikolai Patrushev, who played an important role in unleashing the war against Ukraine.

It should be noted that Russia is again trying to blackmail Ukraine and its Western allies, claiming an alleged "lack of prospects" for extending the grain agreement. Although, Moscow still has not given up on "consultations".

The Russian Federation also announced "distortions" in the implementation of the grain agreement and demanded to correct these so-called distortions, Deputy Foreign Minister Sergei Vershinin told the Russian media. "We don't see them (prospects - Ed.). But of course we continue consultations with the United Nations representatives on both parts of the package deal that was signed last July," the Russian official said.

OBOZREVATEL previously reported that the stoppage of the grain initiative will have a negative impact on Ukrainian exports and as a consequence - on the hryvnia exchange rate, the NBU noted. The agreement is working with interruptions, and Russia is constantly blackmailing the world with the termination of its functioning.

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